Hi fellow CFMA members!
We've noticed a growing trend in P-Card expenditures and some recent analysis has shown higher and more frequent M&E, lack of supported expenditures as well as just frivolous purchases. We are thus looking to re-vamp and potentially reword our written policy along with a direct communication to the employees that hold purchasing cards. We know the simplest way to mitigate this is to take the cards away but we also don't want to hamper them from doing their jobs effectively.
With that, would anyone be willing to share the verbiage from their policy and/or how your company more closely tracks and mitigates these trends?
Thanks in advance for your feedback!
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Tracy Hawthorne CPA
Director of Finance & Accounting
Donley Companies Inc.
Cleveland, OH
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